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The commercial property industry has seen an increasing number of regulations in relation to energy performance due to The UK’s government’s commitment to reduce the high level of carbon emissions. As 50% of carbon emissions made in the UK is from construction and operation of buildings it has been an area heavily looked into for improvements.
This has led to greater transparency to the markets level of energy performance, anyone who has been through a transaction in the industry will know about EPC reports and that they are required for any transaction. Their purposes is to highlight buildings which are using high levels of energy to buildings which are energy efficient. This is a positive for a tenant as it can give them a much better idea of what their energy costs are going to be like.
These reports also hold landlords publically accountable for low energy efficiency in there building, which will be very useful for landlord which promote themselves as “green”.
Teresa Beatty a commercial surveyor at Morgan Pryce said “Holding landlords publicly accountable for the energy efficiency of building has contributed too many landlords making commitment to sustainability, it is becoming an increasingly popular trend with new developments such as the Pinnacle introducing green features which are far and beyond what has been seen in buildings before it.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.